At this rate, the median price in 2039 will be $2,988,000! Hat tip to Richard!
San Diego County residents who bought homes in the 90s are reaping the benefits of a hot housing market.
Homebuyers who purchased their properties 20 years ago are “sitting pretty” in 2019, according to a study by GOBankingRates.
The study ranked 15 California cities by property appreciation rates. Six of the top 10 increases were in the San Francisco area. Two Los Angeles-area cities, Santa Monica and Newport Beach, finished first and second on the list, respectively.
The only San Diego County city on the list of top 20 locations for home appreciation was Encinitas.
In 1999, the median home value in Encinitas was $343,500. The figure now stands at $1,198,000, marking a 248.8 percent increase in value over 20 years, the study reports.
The five-year rental income on an Encinitas home is $229,688, according to the study.
See our interactive map of top California housing markets for home value increases: